20.07.2021 - Companies, Diaspora, Economy

LIAA releases “Business Guide 2021”

The Investment and Development Agency of Latvia has published a renewed version of “Business Guide”, which guides investors through the investment environment in Latvia. This material is released annually.

The “Business Guide” informs investors about the basic facts about Latvia, economy overview, foreign direct investment, incentives for investors, business sectors, human resources, business infrastructure, financial environment and taxation, as well as the quality of life. This year, the LIAA team compiled the latest statistics that may be in the interest of investors to make the investment process as easy and informed as possible.

“2021 has started several bright success stories, such as SwissCom, q.beyond and NorwegianAir entering the Latvian market and Webhelp expanding its operations in Daugavpils to 250 employees. Latvia has proven to be a well-established place for companies that work with 5G, IoT and AI. Meanwhile, Circle K shows that our talent pool is internationally competitive since it serves 7,200 gas stations in North America with a team of 130 people. Indeed, Latvians deserve to be called multilingual talents with a Nordic work ethic,” in the opening statement reveals Kaspars Rožkalns, Director-General.

The guide highlights successful cases of foreign direct investment, such as Webhelp expansion, and new market entries - q.beyond, Norwegian and Swisscom. It also mentions some of the startup success stories, such as Longenesis, RoboEatz, and HyMet. Some sections also note the latest business incentives, such as fast-track “Green Channel”, which allows investors to go through different administrative processes two times faster. This allows implementing large scale projects in Latvia’s priority sectors. Also, Expo 2020 is one of the largest investment promotional events in which Latvia takes part this year.

To get aquainted with the material, please click here: Business Guide 2021

 

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